Madoff Had Accomplices:His Victims

The New York Times got it right in todays paper. The article in the NYT basically reiterated what The Detroit Times has writen about the Madoff affair over the last few months. The people who invested with Madoff were tripped up by there own greed and forgot or where to lazy to learn the cardinal rules of investing. Investing in Bernies fund wasnt necessarly a mistake. Smart people like Dr.Doom (Henry Kaufman) invested in Madoff's fund but did it in a way that prevented them from losing there lifes savings. Kaufmen is worth $100 milion but only put $5million a small portion of total wealth in the Madoff's fund. His other investments made up for what he lost with Madoff. That is smart investing. Kaufmen spread the risk in his investing. Its always sad to see people lose there money but the Madoff investors are clearly to blame for their own loss. The government dosent owe them a thing. Yes its tragic they lost their security blanket but at some point people have to be responsable for their own actions. Madoff didnt point a gun at anyone to invest. These people did it willingly on there own. A few years ago Barrons wrote an article that if Bernie was getting the returns he claimed it was simply magic. In other words they were saying Bernie's results were an illusion.
The sentence Madoff received is totally unfair. Life in prison for tricking a bunch of greedy people is a sentence that dosent fit the crime. But Madoff's plea shows he is a stand up guy. By pleading guilty he is not obligated to testify against others who may have helped him. In contrast the Big mockers in the Mafia couldnt make plea bargains fast enough with the government to snitch on their brother mobsters. Omerta suddenly became a blank word when there own freedom was at stake. Madoff willingly took the full punishment by pleading guilty and refusing to cooperate with the government and received an unfair sentence. Madoff's lawyers will appeal the sentence and Iam sure justice will be served with a much lighter sentence.
THE MARKET IS STARTING TO BOTTOM OUT. UNLESS CONSUMERS INCREASE THERE EARNING POWER ITS ONLY TEMPEORY
THE OBAMA PRESIDENCY Dr.Obama says a lot of good things. But when it comes to taking taking action everything gets so watered down that doing nothing proably would have been better. So far Dr.Obama is a weak wishy washy President that is getting killed in foreign affairs with a weak domestic agenda